There is something positively Dickensian when looking at the anti-deprivation rule (the "rule") and images come up of scribes working in dark and dismal rooms scratching their quills by dim candle light. Indeed, the rule dates back to the nineteenth century and many lawyers would be hard-pressed to explain it even if they are able to grasp the contradictions and fine distinctions thrown up by the old cases. In essence, the rule provides that a contractual provision is void if it provides for the transfer of an asset from the owner to a third party upon the insolvency of the owner.
United Kingdom, Corporate Finance/M&A, Insolvency & Restructuring, Litigation, Jones Day, Share (finance), Royalty payment, Bankruptcy, Landlord, Leasehold estate, Joint venture, Liquidation, Fair market value, Common law, Articles of association, Liquidator (law), Lehman Brothers